Despite some progress and a number of hardwon victories for the climate, MEPs on the European Parliament’s environment committee failed to raise the ambition of the EU’s Emissions Trading System (EU ETS) to a level that would avoid catastrophic temperature rises.
If the European Union does not significantly strengthen its reformed flagship Emissions Trading System (EU ETS), it risks fuelling planetary heating that will exceed 1.5°C and even missing its own inadequate targets, two simulations show.
The Intergovernmental Panel on Climate Change’s (IPCC) latest report underscores the urgency of the climate crisis: the effects of the climate breakdown are already being felt around the world, and will only become more destructive in the coming decades. Humanity is rapidly running out of time to keep planetary heating limited to the Paris Agreement’s …
There are multiple arguments for why the EU’S 2030 climate target aimed to reduce greenhouse gas emissions by at least 55% is not compatible with the 1.5°C temperature goal of the Paris Agreement. The EU thus will need to look at how it can do more. Substantial additional action in all economic sectors and in …
Read more “Why the EU must strengthen its climate target, including in the Emissions Trading System”
The European Union Emissions Trading System (EU ETS) is a central element of EU climate policy. The successful reform of the EU ETS is thus crucial for the implementation of the objectives of the European Green Deal. Reforms are required in the following four aspects of the EU ETS. The first aspect is …
Slovakia’s Deputy Prime Minister Richard Sulík has a surreal idea for emptying Vladimir Putin’s war chest. “We should lower energy prices… We should suspend CO2 trading, because that drives up energy prices,” he opined
Fossil fuel companies across Europe raked in huge profits last quarter, including Italian energy giant Eni, whose net profits quadrupled while low-income Italians struggled to pay their energy bills. The EU must make the polluters pay and not the most vulnerable in our society. Italy is a country where people spend proportionately more of their …
Read more “Energy markets are not cash machines for milking low-income households”
In this joint letter, some 30 NGOs and green manufacturers urge MEPs to vote to end free pollution permits under the EU’s Emissions Trading System (EU ETS) and to use the extra revenue raised to finance more ambitious climate action.
Date: 10 May 2022 Time: 14:00-16:00 CET Last summer, the European Commission launched ‘Fit for 55’, a large package of legislative proposals to reform the EU’s 2030 climate and energy framework, including the EU’s Emissions Trading System (EU ETS). The EU ETS is a cornerstone of the EU’s climate policy and vital to its ambition …
Read more “EU ETS Review: A make or break decision for the climate”
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